Openfort Terms of Service

Last updated: December 12, 2024

Welcome to Openfort. Please read these terms carefully as they govern your use of our services. If you have questions about these terms or our services, please contact us at:

Email: support@openfort.xyz

Address: 651 North Broad Street, Suite 201, Middletown, Delaware 19709

1. Introduction

These Terms of Service ("Terms") form a binding contract between you and Alamas Labs Inc. ("Openfort," "we," and "us"). Your use of our services in any way means you agree to these Terms. These Terms include our Privacy Policy and may include additional terms for specific services.

If you are using our services on behalf of an organization, you confirm that you have the authority to bind that organization to these Terms. If you don't agree with these Terms, you may not use our services.

2. What Openfort Does For You

Openfort provides two essential services to help you interact with blockchain networks securely and efficiently:

2.1 Authentication Service

Our authentication service helps you securely access blockchain applications. We verify your identity using your chosen authentication method (such as email, Google, or social login) to ensure secure access to your account.

2.2 Embedded Wallet Service

We provide you with a self-custodial wallet that enables you to:

• Securely store and manage digital assets
• Sign transactions on blockchain networks
• Interact with decentralized applications

Your wallet is self-custodial, which means you maintain full control of your assets. We never have access to your complete private keys or the ability to make transactions on your behalf.

3. Account Creation and Security

Creating Your Account

To use our services, you'll need to create an account. During account creation:

• You must provide accurate and complete registration information
• You must be at least 16 years old or have guardian consent
• You agree not to create an account to impersonate another person

Wallet Security

When you create a wallet, we implement a secure key management system to protect your assets:

• Your private key is split into three secure shares for enhanced security
• You control access to your wallet through your login credentials
• Recovery options are available if you lose access to your wallet

Your Security Responsibilities

You are responsible for:

• Keeping your login credentials secure
• Protecting your recovery information
• Notifying us immediately of any unauthorized access

4. Using Openfort Services

Acceptable Use

When using our services, you agree not to:

• Engage in any illegal activities
• Violate others' intellectual property rights
• Attempt to compromise the security of our services
• Use our services for unauthorized commercial purposes

Transaction Services

When using your wallet for transactions:

• You are responsible for ensuring transaction details are correct
• You must have sufficient funds to cover transaction fees
• Transactions cannot be reversed once confirmed on the blockchain

5. Understanding the Risks

Using blockchain technology and digital assets involves several important risks you should understand:

Wallet Security Risks

Despite our security measures, certain risks exist:

• If you lose your recovery information, you may permanently lose access to your assets
• If someone gains unauthorized access to your account, they may be able to transfer your assets
• We cannot reverse unauthorized transactions

Technical Risks

Blockchain networks and smart contracts may experience:

• Network delays or outages
• Smart contract vulnerabilities
• High transaction fees during network congestion

Market Risks

Digital assets are subject to market risks:

• Asset values may fluctuate significantly
• Trading volumes and liquidity may vary
• Regulatory changes may affect asset values

6. Fees and Payments

Using our services may involve different types of fees:

Network Fees

• Blockchain networks charge fees (gas fees) for processing transactions
• These fees vary based on network conditions
• You are responsible for paying all network fees

Service Fees

• We may charge fees for certain services
• All fees will be clearly disclosed before you use a paid service
• Fees are non-refundable unless required by law

7. Privacy and Data Protection

We take your privacy seriously and protect your information according to our Privacy Policy. We:

• Only collect information necessary to provide our services
• Use industry-standard security measures to protect your data
• Never sell your personal information

8. Changes to Services or Terms

We may update these Terms or our services over time. If we make changes:

• We will notify you through our website or by email
• Continued use of our services means you accept the changes
• You can stop using our services if you don't agree with the changes

9. Termination

You may stop using our services at any time. We may suspend or terminate your access if:

• You violate these Terms
• We suspect fraudulent activity
• We are required to do so by law

10. Legal Framework

10.1 Limitation of Liability

Openfort provides services "as is" and "as available." We are not liable for:

• Losses resulting from your use of our services
• Unauthorized access to your wallet
• Network or smart contract failures
• Loss of digital assets due to lost credentials

10.2 Dispute Resolution

If we have a disagreement, we will try to resolve it directly. If we can't, disputes will be resolved through binding arbitration in accordance with JAMS rules. This means:

• You waive your right to sue in court or have a jury trial
• Arbitration will be individual, not class action
• Arbitration will be held in Delaware

You may opt out of arbitration within 30 days of accepting these Terms by emailing support@openfort.xyz.